Posting: Affordable Housing Asset Management Specialist
The Asset Management team focuses on the long-term stewardship of Homeport’s tax credit affordable rental housing portfolio. Asset Management looks for physical, financial, and advocacy opportunities to positively impact the properties. The Asset Management Specialist is a critical position for Asset Management and will assist and support the team in all aspects of portfolio management. The Asset Management Specialist is accountable for fulfilling reporting requirements, following through with compliance obligations, and monitoring, tracking, analyzing and making recommendations regarding financial performance and regulatory commitments of the Homeport housing real estate assets.
Duties and responsibilities
- Verifies accuracy of property operating statements and monthly/quarterly variance reports, including physical and economic occupancy analysis.
- Creates and provides support to Asset Management team to monitor, analyze and create plans for budget versus actual variances for real estate portfolio.
- Extracts critical information from financial and partnership documents for tracking and reporting purposes.
- Prepares financial analysis for equity installments.
- Prepares and updates cash flow projections.
- Provides support in restructurings, sales/disposition and asset financings as required.
- Assists in the coordination of due diligence process on dispositions/refinancing activity, including legal, financial, and physical reviews.
- Supports the asset management team in the development of property operating budgets, capital budgets, income re-projections and annual business plans.
- Identifies and researches opportunities to improve operating efficiencies, adopt best practices, and improve profitability across portfolio.
- Monitors and reviews physical inspections at property site locations and when necessary tracks the correction of repairs.
- Monitors and reviews resident concerns reported to Homeport and tracks the resolution by the property management company personnel.
- Evaluates property reserve accounts to ensure compliance with funding agreements, tracks and processes withdrawals as required.
- Travels to sites for inspections, due diligence, and at other times when required.
- Performs other related duties or projects as assigned.
Bachelor’s degree from an accredited college with a major study in business, finance or accounting and/or equivalent combination of education, training and work experience. 2-5 years of experience preferably in residential real estate property management, in real estate accounting, or in multi-family tax credit affordable housing.
- Excellent analytical and research skills
- Knowledge of accounting and finance principles
- Ability to work both independently and in a team environment
- Ability to communicate with diverse partners both orally and in writing
- Ability to follow complex instructions
- Ability to maintain trust and confidentiality
- Proficiency in Microsoft Office Suite
- Knowledge of Yardi software a plus
- Demonstrated interest in mission-based organizations
- Interest in professional development
Licensing and Certification